Finance Minister Carole James. (Tom Fletcher/Black Press)

B.C. to review ‘fiscal responsiblity’ at Crown corporations

On the table are BC Hydro, ICBC, the BC Lottery Corporation and more

The B.C. government has announced plans to review the fiscal sustainability of its Crown corporations.

On the list released Tuesday are the BC Lottery Corporation, BC Hydro, the ICBC, the Liquor Distribution Branch, and the BC Housing Management Commission, including the Provincial Rental Housing Corporation.

The province said it will “evaluate risks and identify options” to develop, monitor and manage to its overall fiscal plan targets.

Budget documents released earlier this month showed ICBC did financially worse than forecast, while the BC Lottery Corporation and the Liquor Distribution Branch did better, and BC Hydro performed pretty much on par.

ICBC has been much criticized for an $833-million deficit revealed this past winter. A report released in July said rates could go up by as much as 30 per cent by 2019 if current trends persist, the corporation still has to cover its costs through rates, and nothing is done to improve things.

READ: ICBC rates could go up 30 per cent by 2019: report

The NDP had taken shots at the previous Liberal government for what the New Democrats called their “irresponsible” handling of the auto insurer.

In July, Attorney General and minister responsible for ICBC David Eby told reporters that a 30-per-cent rate hike “will not be happening on our watch.”

READ: ICBC claims up 14 per cent this winter

Premier John Horgan appointed new ICBC and BC Hydro chairs in late July as part of the government’s strategy of overhauling the two corporations.

The NDP has promised to freeze hydro rates, overturning a Liberal plan that would have increased rates by 28 per cent over five years.

The review is scheduled to be complete before the government starts putting together its next budget.


@katslepian

katya.slepian@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Just Posted

Fort restores a musical Christmas tradition this weekend

The Old-Fashioned Musical Christmas is back at the Fort Langley National Historic Site.

Giving is the reason for the season for a young Langley organizer

A homeless giving campaign started three years ago in Vancouver has spread to Langley.

Crash closes 32 Avenue in Aldergrove

Delivery van and small car collide just east of 272 Street

Michael Jackstien named Langley’s Good Citizen of the Year

The longtime volunteer organized the BC Summer Games and many other local events.

WHAT’S IN STORE: Langley realtors take Monopoly play to new level

A local real estate agent has partnered with a few others to host a unique fundraiser for refugees.

VIDEO: Average Canadian food bill to rise by $348 in 2018

Atlantic Canada and B.C. will see the most increases for consumers

Aldergrove Legion hosts Christmas breakfast

Aldergrove enjoys Light Up Aldergrove Parade and Legion’s annual Christmas breakfast

Quarter of students were away sick at Maple Ridge elementary school

Students and teachers at Maple Ridge school away with colds, flu.

Suspect in Revelstoke standoff killed himself: RCMP

Mohammadali Darabi, suspect in the Calgary homicide of his roommate, was stopped in Revelstoke

Clinton visits Vancouver, applauds Trudeau, celebrates Democrats’ win in Alabama

Clinton told crowd she cheered when Prime Minister Justin Trudeau appointed the country’s first gender-balanced cabinet.

VIDEO: Salt Spring Islanders ferry piano to their floating home

Everyone enjoys a little music on the water, but not everyone has a piano on their boat

Frustrated federal workers rally against Phoenix payroll system at B.C. MP’s office

Some employees out tens of thousands of dollars with ‘no end in sight’

Bomb detonated in Kamloops neighbourhood

Kamloops RCMP are investigating after an improvised explosive device was detonated Wednesday morning

No More Shootouts: Strong defence will be Canada’s backbone at world juniors

Head coach doesn’t want a situation where a hot goalie or a lucky bounce can determine a team’s fate

Most Read